In the Spot Light

Many people complain about the high cost of insurance, while some are considered fortunate because their company pays for their benefits or even just partial payment. Unfortunately, many people don't think past the..."Yippy Yahoo I have free health insurance."  Those same people's good fortune changes when they lose their insured benefits from the company due to layoffs, firing, quitting, or the company eliminating benefits because of the increasing cost and need to make cut backs.

Cobra will protect them for 18 months, but they will have to pay all the premiums including what the company was paying on their behalf while employed. This could be very costly in terms of premiums you pay out. When Cobra coverage runs out....Getting reinsured is difficult and can be very costly if your health condition is not excellent. Affordability becomes a word of the past.

Unfortunately many people have a false sense of security when their company pays their benefits. I personally would rather have affordable health insurance available through an association where I could never be singled out for cancellation or a rate increase. I would also want a policy that was portable and went with me and went with me when I left my job or was asked to leave.

By Margo Kelly